Where your estate stands on inheritance tax
Most estates owe nothing — the first £500,000 is tax-free. Yours is a little above, so here's where it stands today. Nothing is owed now; this is only a guide.
Estate value
£560,000
1 property · 12 items · accounts & pensions
Tax-free allowance
£500,000
£325k nil-rate + £175k residence band
Taxable slice
£60,000
the part above your allowance
Estimated IHT @ 40%
£24,000
before any planning
💡 A tax adviser's planning (gifts, trusts, charitable relief) could reduce the £24,000 estimate by more than their fee — an estimated £18,400 saving. There's no rush, and you'll never be charged automatically.
Review with a tax adviser →
Suggested next steps
Add a beneficiary
You have 12 items but no one to leave them to yet. Who matters most?
Add someone →
Add photos to 8 items
Photos improve AI valuations by up to 40%. Your Rolex would benefit most.
Start with Rolex →
Your estate may owe £24k in tax
See how a STEP-accredited tax adviser's planning could reduce it — an estimated £18,400 saving.
See how planning helps →
Items (12)
⏱▲ +8%
Rolex Submariner 116610LN
Watches · Luxury
£9,20091%
📚– flat
Book Collection (~200)
Books · First Editions
~£4,20061%
🪙▲ +3%
Gold Sovereign Collection
Coins · Precious Metals
£3,40083%
🕰– flat
Grandfather Clock
Clocks · Furniture
£1,80072%
🎸▲ +5%
Gibson Les Paul Standard
Musical Instruments
£1,65078%
🚂– flat
Hornby R3454
Model Railways
£28587%